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The SpaceX mission
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Principal reduction home loan plan coming soon
WASHINGTON |
WASHINGTON (Reuters) - The Obama administration is actively working on a plan to help both jobless workers and those who owe more than their homes are worth and details of the plan are coming "very very soon," a top Treasury official said on Thursday.
"We have come up with some interesting ideas ... to enable some additional people to participate in this program, who may be unemployed or who need principal reductions and we look forward to speaking with you very very soon about these ideas," Herb Allison, Treasury assistant secretary for financial stability, told lawmakers on the House Oversight and Government Reform Committee.
(Reporting by Corbett B. Daly, Editing by Diane Craft)
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If you bought a home that was too expensive to begin with then you have no one to blame but yourself, the government shouldn’t be footing the bill to keep you there. Actually it would help the bank who holds the title not you. Isn’t that the basis of all these bailouts?
If you were able to keep it but are holding on by a thread because of the poisonous banking and bankruptcy laws that still haven’t been addressed, maybe something can be done.
There are millions who have stable jobs and incomes but have been caught up in a system that rewards big business/banks and not hard working Americans.
HOPE indeed
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